What is a Forex Trading Bot or an Expert Advisor?

First, let's talk about what a forex trading bot is. Trading bots execute trades automatically on your trading platform. This is accomplished by running code on your machine.

Benefits of Using Trading Bots vs Manual Trading

First of all, trading bots save time for other activities in your life. They operate 24/7. This is one of their best features.

Other benefits include no daily monitoring of markets. You avoid hours watching charts and managing emotions during drawdowns. Trading always involves risk.

I've seen accounts blown due to emotional trading. Emotional stability matters in manual trading.

How do trading bots or expert advisors actually work?

This is straightforward. Bots run backtested strategies automatically.

The premise is that past performance is actually indicative of future results, if the trading model is not overfit on market data.

Do all trading bots eventually blow up the account?

Not necessarily. Many bots aim for high win rates with large stops. However, some fail quickly.
Be careful of high win rates. Ensure proper stop-losses are used.

If it's too good to be true, it probably is. Trading is probabilistic. There has to be some kind of risks involved which is usually drawdowns in trading.

What are the best trading bots right now?

We will list a couple of trading bots that are currently popular in the market. Here is the list

1) Nas100Bot

First, let's start with the fact that you can download the EA for free from the website.
You can then backtest the strategy to see the results on your own brokerage account. You can also use the visual mode to see the individual trades executed using the strategy backtest panel of the MetaTrader 5.

Key features:
  • hard stop losses on all trades
  • targeting 1.5R - 2R on average
  • Very few parameters to configure to get started
  • easy to set up installation guide on the website
  • trend following swing trading strategy, no high frequency trading

Pricing starts from $649 for a 6-month period, which is approximately $108 per month, and outweighs its profit potential by a lot.
I have tried this forex trading bot for a couple of months, and it is a solid trading bot with simple installation and very few input parameters.
The only important parameter to consider is the us session market open time, which the bot needs because it only trades during us session hours. Considering that it trades on the Nasdaq 100 market, this makes sense.

The good thing about nas100bot is that you can download and backtest the EA for free on your MetaTrader 5.

2) Forex Fury

One of the most popular forex trading bots on the market, unfortunately, this is a high-frequency trading bot, also known as HFT, which I generally avoid. However, numerous reviews say they have profited in the long run by using low-risk strategies.

You cannot backtest the EA itself before buying, but you can check their EAs that run on demo accounts on the MyFxBook page.

There is also a Reddit post where clients have left their reviews for the EA. You can check it out here.

Key features:
  • Scalping and High frequency trading
  • High win rate and Smoother equity balance
  • The probability of ending the month in profit is high
  • Trades almost every forex pair
  • Supports MT4 and MT5

Overall, aside from high-frequency trading, which is somewhat risky, the forex trading bot itself is one of the best in the market right now.

3) Forex Diamond

One of the oldest trading bots in the markets. This one is more complex than the other EAs. They combined three different strategies in the EA. Therefore, this will result in a smoother equity curve, enabling it to withstand various market conditions.

They have also implemented a randomization strategy in entries and exits, which will help prop firm traders trade simultaneously on prop firms.

Due to having three strategies running at the same time, you may face higher drawdowns due to high-risk usage. You need to configure it properly, according to their website setup guide, to achieve your desired results.

Key features:
  • Compatible with MT4 and MT5
  • Three different strategies for a smoother equity curve
  • Trades almost all forex pairs
  • Scalping and high frequency trading

4) GPS Forex Robot

If you are looking for a budget-friendly trading bot or want to get started with automated trading, you can begin with this bot, as it is more affordable than others.

It focuses on reversal trading strategies, meaning the win rate will be high and the equity curve will be smoother. This also means that the risk will be high too, so keep in mind not to use high risk when trading with this EA.

Key features:
  • High frequency trading
  • Mean reversion strategies
  • Cheap pricing
  • Easy to set up

Choosing the Right Forex Trading Bot

Select the type of trading that best suits you. Can you tolerate drawdowns, or do you want a smooth equity curve? How much profit are you looking for each month, and do you want trend-following or counter-trend-following strategies?

High win-rate strategies typically carry higher risks, but they exhibit smoother equity curves, which tend to feel more favorable than those of low win-rate strategies.

You need to see verified MyFXBook results or backtest them on your own MetaTrader 5 platform. You need to check if it works on your selected brokerage account, as the profitability of high-frequency trading depends heavily on the commissions and spreads of the forex pairs.

Avoid unrealistic claims; always remember that if it's too good to be true, it probably isn't .

Always look for transparency, whether it be verified by Myfxbook or backtesting on your own MetaTrader 5 platform.

You need to check the performance of the forex trading bots before deploying them live.

Always try to trade it on demo accounts before allocating real money to the trading bot.

Final Thoughts on Forex Trading Bots

Trading bots are not magic and money-printing machines; anything in trading involves risk, and there are no free guaranteed profits.

Forex trading bots allow you to remove emotions from trading and save you the time and freedom.

NAS100Bot stands out in 2025 because it combines data-driven performance, tight risk control, and open transparency.

You can download the EA for free, and decide if it fits your trading style.

Try it yourself here and, when you're ready, grab your license.